Class notes
International Trade
- Course
- Institution
Summary notes on international business. A level second year business
[Show more]
Seller
Follow
damilolaadekeye09
Content preview
Business: International TradeChapter 75
Key terms:
- Inward Foreign Direct Investment: Investment into a country (UK)
from other companies abroad. E.g. Buying up one of a business,
buying property assets.
- Outward Foreign Direct Investment: Investment from a country( UK)
to another country. E.g. Setting up a factory in Brazil, buying
property in Nairobi
- Saturated Market: One where nearly everyone who wants a
product or service already has it which could lead to sales slowing
down or slipping back.
- Scientific management: Taylor suggested that managers should
maximise worker productivity by calculating how best to divide
tasks into smaller fragments and incentivise workers to produce
exactly as set out by managers.
- Imports: Products produced abroad and consumed domestically.
E.g. Lindor chocolates
- Exports: Goods sold by domestic businesses to consumers in
other countries. They generate extra revenue
- Specialisation: Occurs when a business produces a limited range
or focuses on producing a particular product
Reasons for trade between countries:
- To gain knowledge and expertise in certain types of production
- Foreign suppliers may offer better-quality products
- Foreign suppliers may sell products for lower prices
Keynotes:
Retailers, for example, Tesco relies heavily on imports. Their success
depends on their ability to source the type of imported goods that their
customers enjoy.
Jaguar Land Rover imports many of its parts
20% of UK firms export goods
The main reason why firms export is to find new markets
Firms benefit from economic growth because rising incomes created by
growth make for a bigger market.- Long term benefits
Economic growth rates can vary greatly- short and medium-term
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller damilolaadekeye09. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.59. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now